Sonoma Housing Bubble

Pulling the cork out of Sonoma's bubbly housing foolishness

Monday, March 13, 2006

Sonoma County February Sales Data




Sonoma County Sales Down -16.30%

County Median Price: $555,000

Average Days on the Market: 92

Sonoma Valley Sales Down -41.20%

Sonoma Valley Median Price: $652,000

Average Days on the Market: 99

Did I read that right...? No condos sold in Sonoma in the month of February?

You also have to love the price listed/price sold ratios. They don't factor in the number of homes with the sale prices reduced, nor how many times the prices were reduced on the listing, nor do they account for the number of homes RE-Listed to start the days on the market count over again. Nothing like skewing the statistics. Nope... no bubble here. Nothing to see.

Eyes front. Eyes front.

2 Comments:

At 3/14/2006 08:53:00 AM , Blogger Marinite said...

I like the fact that condos cost nothing in Sonoma. I might have to move there. LOL

 
At 3/14/2006 09:26:00 AM , Blogger Athena said...

LOL... right... that's because the data is only for units sold. So apparently the condo market is not so hot there huh?

I'll have to dig around and see how many were sold the month before. I did notice that the paper over the weekend was again silent, mum, mute on the bubble news. The articles were all about staging and nothing exciting... one was shyly beating around the bush about risky financing in a Q&A format- but again, it was basically lame.

There was one realtor though... same one as before that still had a big tag line of "What Bubble?" above her head, and then proclaiming that it has never been a better time to buy... and that she isn't afraid of any bubble.

I also noticed a few real estate sites for the area are now posting "market conditions" cough cough... and of course they are saying this is now a buyers market... and it has never been a better time to buy.

Well folks... it is NOT a buyer's market yet. When the prices return to a buyers budget it will be a buyer's market.

We'll let you know when that happens.

 

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